Mr. Peter Gommerud reports
BANDERA GOLD TERMINATES LITIGATION ON MEXICAN PROPERTIES
Bandera Gold Ltd. has terminated the litigation on its Cinco Minas and Gran Cabrera mining properties located in Mexico. Bandera has diligently defended its rights to enforce the original option agreement signed by the parties, only to be obstructed at every turn by procedural manoeuvres common in the justice system in Mexico. The board of Bandera has assessed the uncertainty of any potential resolution, timing and cost of continuing the court cases, combined with generally poor financial conditions in the mining sector affecting the market value of the properties.
After assessing these factors, the board has determined Bandera's resources are better focused toward identifying and evaluating mineral properties of merit for acquisition, exploration and development.
We seek Safe Harbor.
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